Energulf Resources Inc. ENGFF

TA in Zeta''s absence

[travelnutter]

Candles today gave us a Black Marubozu - single long black body with no shadows top or bottom. As we know prices were sliding pretty much all day and we closed at the lowest sp. This is, no surprise, a bearish signal. we have been enduring bearish sell behaviour for almost all of March, about 21 days, and we have dropped over 5% so far. The bad news is that the sell signal may still hold. The good news is that today's candle can also signify we have bottomed and are entering a new bullish period. We need to look again early tomorrow for very positive sign such as a good upwards gap or gradual rising prices ending with close sp above today's close. Either sign would signal a new bullish period. Even if you don't believe in candle theory I would not want to risk shorting at this time, IMHO. Very risky. We all know the confusion over DV has caused short-term sp damage but you either sell and give up/move on to other plays or else you hold patiently while popping sedatives. Once DV status is clear the shorts will be in big trouble almost immediately. IMO, I think tomorrow will be interesting, I would hate to leave the market Friday afternoon and then discover on Sunday that DV is on site and dropping the bit. That will make for a very unhappy Monday morning for a lot of people, but not for us! Right? Hang in. Good luck. and Zeta, come back and claim your territory!